Aker BP strengthens North Sea portfolio with Japex agreement
Aker BP ASA has entered into an agreement with Japex Norge AS to swap a 10 percent interest in the Aker BP-operated Alve Nord development and a 3.5 percent interest in the Verdande development. In exchange, Aker BP will receive Japex’s Northern North Sea portfolio and a cash consideration of USD 14 million.
Japex’s Northern North Sea portfolio comprises a 15 percent interest in the Kjøttkake discovery (PL1182S), a 10 percent interest in the Kveikje discovery (PL293B/PL293CS), and a 20 percent interest in PL1212S. By increasing its stake in Kjøttkake to 45 percent and entering Kveikje with 10 percent, Aker BP strengthens its position in a high-potential cluster of discoveries.
The effective date of the transaction is 1 January 2025, with completion subject to approval by Norwegian authorities.
|
|
|
Aker BP participating interest |
|||
|
License |
Name |
Pre-deal |
Acquired / Sold (-) |
Post-deal |
|
|
PL127C |
Alve Nord |
68.0825% |
-10.0000% |
58.0825% |
|
|
PL127/PL127DS |
Verdande Unit |
7.0000% |
-3.5000% |
3.5000% |
|
|
PL1182S |
Kjøttkake |
30.0000% |
15.0000% |
45.0000% |
|
|
PL293B/PL293CS |
Kveikje |
– |
10.0000% |
10.0000% |
|
|
PL1212S |
|
– |
20.0000% |
20.0000% |
|